FOREX PRO Weekly December 05-09, 2011

Triantus Shango

Sergeant Major
Messages
1,372
update:

So guys, I hope somebody has profit with these huge move. Personally I was sleeping so I left my sell order at 1,3465 . But if you where awake , then you would have seen a new hourly ABCD after hitting .618 downward retracement at 1,3380 with 100% target at 1,3458. Market nailed that level and fell apart. Now it's standing at major 4-hour ABCD COP. We can expect some retracement but not much since market has a lot of downward momentum. I reckon if market manages to close during three to four 4-hour periods below 1,3342 then we are on our way to 1,3260 area with weekly pivot support 1, 1.00 extension and previous low. I ain't good at predicting after huge moves have taken place so take my words as my personal opinion and/or for educational purposes not as a buy/sell advise.
thanks, appreciate it. i could have stayed in bed for all the good it did me being glued to my screen. i wish i knew how to scalp at hyperspeed.
 

Triantus Shango

Sergeant Major
Messages
1,372
George Soros speaks! ahum... spoke

sive

from a purely sentiment point of view, if soros is right, they can't let the EZ fail... so on that premise, notwithstanding draghi's stunt today, would it be far fetched to argue that we are now at a good level to enter long in expectation for the short squeeze?

i know, bearish levels have been broken, but considering how these moves are all driven by whatever this or that official says, at the end of the day, is it not more sensible to expect the politicians to come out of the EU summit with another market shocking statement that will send the shorts covering?

source: http://www.reuters.com/video/2011/11/04/soros-angela-merkel-was-the-creator-of-t?videoId=224281604
 
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Venelin

Master Sergeant
Messages
401
Hi Triantus Shango! IMHO we are due to a big move to the upside-with 1.3630 target based on my EW analysis, but I could be very very wrong...So-that is why we must use stops in this game ! I am long now with stop @ 1.3280! Can`t post chart, sorry! Cheers :)
 

Triantus Shango

Sergeant Major
Messages
1,372
Hi Triantus Shango! IMHO we are due to a big move to the upside-with 1.3630 target based on my EW analysis, but I could be very very wrong...So-that is why we must use stops in this game ! I am long now with stop @ 1.3280! Can`t post chart, sorry! Cheers :)
thanks. i hear you. i am long as well. i smell a fish. :rolleyes:
 

rashidin5178

Sergeant
Messages
244
Guys,

Just check it out by yourself. I think DRPO sell on M5. Maybe it try to retest 1.3300. And Maybe this time the target is 1.3233.

Thanks and Best Regards
 
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Triantus Shango

Sergeant Major
Messages
1,372
rashidin

take a look at this H1 chart. i guess it could drop to where you said, or even complete the butterfly at 161.8=3260. if it does, and also if it does not, meaning EUR bounces from 127.2, then i think we will revisit 3390=61.8% retrace.

and if 3300 or 3260 levels hold, then perhaps we might even see a butterfly buy on H4 like the one in the H4 chart i attached to this post. in which case, EUR might go back at least to 3445-3460. i mean, for the first leg up of the 2nd triangle, then down from there.

what puzzles me is that if you look at the daily chart for USDNOK, you will see the USDNOK has not closed above mid-BB. usually, if the market struggles to close above the mid-BB after crossing it on a down move like it is the case here for USDNOK, that's usually not a bullish sign. so if USDNOK is giving us signals of further weakness, meaning USD down, then conversely we should expect EUR up.

i know, a lot of ifs. but... :cool:
 

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Venelin

Master Sergeant
Messages
401
Guys,

Just check it out by yourself. I think DRPO sell on M5. Maybe it try to retest 1.30. And Maybe this time the target is 1.3233.

Thanks and Best Regards
As we know DRPO is a reversal pattern. So I`am looking at 15min.DRPO buy- we`ll see! Cheers!
 

Triantus Shango

Sergeant Major
Messages
1,372
As we know DRPO is a reversal pattern. So I`am looking at 15min.DRPO buy- we`ll see! Cheers!
i like M15. usually the patterns on the TIs are quite clear on M15, gives good trade setups. now that i look back on it, i can clearly see the signal on M15 when the EUR dropped like a stone. i wish i hadn't got so flustered in the heat of the moment. could have traded this sucker all the way down to 3300. god it is frustrating to miss something like this. ok, more whiskey. ;)
 
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